2017 Calendar Year Tax Letters Set to Mail This Week

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With tax season underway, the IPTAY office would like to inform all donors who made a contribution of $100 or more from January 1, 2017 to December 31, 2017 that they will be receiving a hard copy tax receipt in the mail from our office this week.

As you may be aware, at the conclusion of 2017, the United States Congress passed new tax legislation that will affect the deductibility of certain charitable donations to IPTAY. This new tax legislation does not affect donations that were actually made during 2017. For donations to IPTAY that were made in 2017 and that conferred the right to purchase season tickets to Clemson home football and basketball games, donors are permitted to deduct 80% of the donation as a charitable contribution. However, for 2018 and subsequent years, under the new tax legislation, donations to IPTAY that also confer the right to purchase season tickets to Clemson home football and basketball games will no longer be tax deductible as a charitable contribution. (Please note that donations that do not confer any right to purchase season tickets remain generally 100% deductible as a charitable contribution for 2017 and in future years, notwithstanding the other changes in the tax code.) The changes to the tax code were rapid and it is anticipated that additional guidance and direction from the Internal Revenue Service will be forthcoming in the months ahead. Clemson Athletics and IPTAY are working together to provide detailed information on this new legislation and how it may impact your giving.Please consult your tax advisor for the proper treatment of your donations to IPTAY in light of this new tax legislation and how it may affect your individual tax situation in 2018 and in subsequent years.

If you have any questions regarding your gift acknowledgement please contact our office at 1-800-CLEMSON or iptay@clemson.edu. Thank you for your continued support of IPTAY.